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the fiscal cliff would affect 27 million american families. there are other parts of this. when you hear about the fiscal cliff, it is not really the tax rate. i do not buy that at all. i do not think we need to increase these tax rates. >> if you go over and the tax rates go up on everyone and all that goes away -- >> i do not think we should do it. i think we should resolve this. it depends on if we do something about it in the next month or two after that. if we do something in 30 days or 90 days and we are clear about that, but nothing people believe we are going to do something until we do it. >> the to go to the broader concern. does the top rate have to end the 39.6% the way it was under bill clinton? could be democrats accept something between if it was coupled with a reduction in the ability on the top 2% to except a reduction of deductions? >> i do not want to second-guess what we might decide. i do not think that is what we should debate the right now. multimillionaires and what deductions they can take is something different. this is where we are. >> that is in
the fiscal cliff would affect 27 million american families. there are other parts of this. when you hear about the fiscal cliff, it is not really the tax rate. i do not buy that at all. i do not think we need to increase these tax rates. >> if you go over and the tax rates go up on everyone and all that goes away -- >> i do not think we should do it. i think we should resolve this. it depends on if we do something about it in the next month or two after that. if we do something in...
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talk about that do you know the fiscal cliff. do you think a lot of americans do so then why is the media talking about it incessantly well so go there i guess i'm not as informed as they should be but i just kind of figure it might work out do you think most people feel that way you know even most people are worried i think they are and i think that if i ignored it all go away do you think calling it something like the fiscal cliff minimizes it yes or no i definitely agree that it's a complex problem i don't think it simplifies it though i think it adds an element of panic or fear looming. doom and the media loves that yeah do you think there's actually something to worry about or do you think it's something the politicians in the media used to distract us from what's really going on politics and media for sure so what's really going on that they're distracting us from. their own personal agendas people fall into a trip when it comes to real life. people that don't do their job. yeah which is all of them in a word yes yes it's t
talk about that do you know the fiscal cliff. do you think a lot of americans do so then why is the media talking about it incessantly well so go there i guess i'm not as informed as they should be but i just kind of figure it might work out do you think most people feel that way you know even most people are worried i think they are and i think that if i ignored it all go away do you think calling it something like the fiscal cliff minimizes it yes or no i definitely agree that it's a complex...
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. >> i think the fiscal cliff ultimately will be rendered into a fiscal slow. between now and then the uncertainty is paralyzing ceo companies from big to small. you can see in the core capital goods orders which have basically fallen off in the last two quarters indicative of holding that business investment and hiring back which we think will change once we have some certainty brought into that equation. >> tom: finally housing which has shown remarkable stability in several markets but there's talk about limiting mortgage deductions with the fiscal cliff negotiations sometime next year. couldn't that impact the recovery? >> it could. obviously it might be relegated to more affluent households in terms on of the ability to do a deduction either in full or part. tend of the day there's a large household informq.rjz that's occur that's going to drive perspective homeowners into the market regardless. >> tom: let's get to the pic3sb here. you do like housing stocks with the home builders etf. what do you anticipate. they've had a nice run already. >> they've bee
. >> i think the fiscal cliff ultimately will be rendered into a fiscal slow. between now and then the uncertainty is paralyzing ceo companies from big to small. you can see in the core capital goods orders which have basically fallen off in the last two quarters indicative of holding that business investment and hiring back which we think will change once we have some certainty brought into that equation. >> tom: finally housing which has shown remarkable stability in several...
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there's an assumption that the president doesn't want to go over the fiscal cliff like the republicans don't. and i think that's the wrong assumption. i think the president does want to go over the fiscal cliff and yet, there's no coverage of that whatsoever. bob woodward actually gave a video interview to political this week and said who is barack obama and what drives him? it's not a big mystery at this point. >> the media seem to have no problems supporting the idea of putting higher taxes on higher wage earningers in this country and take a look at this from the california teachers union. >> and ordinary people wondered why rich people needed so much money, the 1% said, don't worry, this is good for you, too. because it will trickle down from us to you. and some day, you'll be rich and then the rules we made for us will be your rules, too. >> and that's ed asner, the actor, voicing that production. what's been the media reaction, jim? >> not much. part of it is i'd be hard pressed on a family channel to describe what we just saw there. you have to look, rewind it and look closely a
there's an assumption that the president doesn't want to go over the fiscal cliff like the republicans don't. and i think that's the wrong assumption. i think the president does want to go over the fiscal cliff and yet, there's no coverage of that whatsoever. bob woodward actually gave a video interview to political this week and said who is barack obama and what drives him? it's not a big mystery at this point. >> the media seem to have no problems supporting the idea of putting higher...
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and for much more on the fiscal cliff on fox news sunday chris wallace will sit down in an exclusive interview with democratic senator charles schumer and bob corker on fox news sunday. check your local listings for time. >> all of the talk about sausage makes me want to go out to 6th avenue and grab something from the vendors. >> the guy with the cart. >> i know. >>> coming up the latest job numbers show the unemployment rate dropping to its lowest levels in four years, but the number of people dropping out of the workforce remains high. so what is going on? we will break it down for you. >>- q. i and it has been 40 years since -- >> and it it has been 40 years since americans walked on the moon and now nasa is focused on other missions. a look at the private company that is planning the next moon shot. >> i understand that some believe we should attempt a return to the surface of the moon first. as previously planned. i just have to say pretty bluntly here, we have been there before. buzz has been there. >>> bottom of the hour and let's get you caught up on the headlines. dallas co
and for much more on the fiscal cliff on fox news sunday chris wallace will sit down in an exclusive interview with democratic senator charles schumer and bob corker on fox news sunday. check your local listings for time. >> all of the talk about sausage makes me want to go out to 6th avenue and grab something from the vendors. >> the guy with the cart. >> i know. >>> coming up the latest job numbers show the unemployment rate dropping to its lowest levels in four...
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some argue the country won't be badly damaged if the country hits the fiscal cliff. republicans and democrats keep arguing into the new year. others are worried failure to strike a deal could send the nation back into a recession. >> i think people understand the failure to compromise and going over the cliff could really jeopardize this recovery. the good news today about more people back at work, the unemployment rate coming down, listen, that can be reversed if people lose confidence in our future. >> the number two senate ranked democrat mr. temperature bib argues next week will be critical in terms of president obama and speaker boehner finding a compromise. shep? >> shepard: democrats are still saying what they have said all along and what the president ran on this is about taxes. >> that is true and they note president obama campaigned on upper income americans paying more so they intend to make sure that happens. the house democratic leader says the only obstacle is republicans refusing to ask the top 2% to pay more. >> this is a moment of truth. the clock is
some argue the country won't be badly damaged if the country hits the fiscal cliff. republicans and democrats keep arguing into the new year. others are worried failure to strike a deal could send the nation back into a recession. >> i think people understand the failure to compromise and going over the cliff could really jeopardize this recovery. the good news today about more people back at work, the unemployment rate coming down, listen, that can be reversed if people lose confidence...
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now things have changed and there is more concerned about the fiscal cliff. they asked about a resolution. >> what could the impact speed? we are looking at a time when the global recovery is fragile at best. >> of u.s. is 20% of the global economy. if the u.s. suffers as a result of a fiscal cliff, a complete wiping out of its growth is going to have repercussions around the world. probably half of that. if the u.s. economy has less growth, it will probably be 1% less in mexico, canada, probably less so in europe and japan. but there will be a ripple effects. >> are you worried about it? >> yes. of course i worry about it. the u.s. is a big chunk of the global economy. it has often been a driver of growth. and to have that player virtually flat, if not in recession, would be bad news for the rest of the world. we do not need that because recovery is fragile. we do not want to have this knock on affect on the fragile recovery. >> what would your message be to members of both parties on capitol hill as their negotiating? >> i would say focus on the real issue.
now things have changed and there is more concerned about the fiscal cliff. they asked about a resolution. >> what could the impact speed? we are looking at a time when the global recovery is fragile at best. >> of u.s. is 20% of the global economy. if the u.s. suffers as a result of a fiscal cliff, a complete wiping out of its growth is going to have repercussions around the world. probably half of that. if the u.s. economy has less growth, it will probably be 1% less in mexico,...
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what should we do with private bancorp before the fiscal cliff? i think the positives are clearly baked into the stock right here. this bank could do really well in an environment of rising interest rates, but the fed has made it very clear that rates will stay low until at least 2015. so you know what? let's take a pass on that one. let's do some tweets. thank you, viewers, for making it so that i have more than 600,000 followers. thank you very much. happened just the other day. let's take our first tweet from @nfalex who says what's your take on -- it's the old part of kraft. the stock price has been trading down since the old spinoff. it drives me crazy when stephanie link and i buy for the charitable trust. the charitable trust follows stocks. you can follow along with actionalertsplus.com. and they don't immediately pop. this is the p.m. of philip morris when altria split. it's the fast-growing snacks business overseas, it's going to be great. now here's the problem. it acts terribly. so wa you can say is therefore it's bad or you can do the
what should we do with private bancorp before the fiscal cliff? i think the positives are clearly baked into the stock right here. this bank could do really well in an environment of rising interest rates, but the fed has made it very clear that rates will stay low until at least 2015. so you know what? let's take a pass on that one. let's do some tweets. thank you, viewers, for making it so that i have more than 600,000 followers. thank you very much. happened just the other day. let's take...
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the countdown is on until the nation falls over the fiscal cliff. some sharp new words from president obama this morning in his weekly address. >> if we're serious about reducing our deficit, while still investing in things like education and research that are important to growing our economy, and if we're serious about protecting middle class families, we're also going to have to ask the wealthiest americans to pay higher tax rates. that's one wrins pal i won't compromise on. >> good saturday morning to you, mike. >> hi, alex. >> let's talk about the time line. is there a realistic one in which this can all get done by the beginning of the year? >> i think there is, alex. i think people know the parameters of the year. it's just can they get there, do they have the political will to get there. more importantly, alex, do they have the votes to get there in the house of representatives. you heard the president. he says no compromise on this issue of raising taxes for the wealthy. there's one glimmer of hope, how much to hike taxes. as you know, clint
the countdown is on until the nation falls over the fiscal cliff. some sharp new words from president obama this morning in his weekly address. >> if we're serious about reducing our deficit, while still investing in things like education and research that are important to growing our economy, and if we're serious about protecting middle class families, we're also going to have to ask the wealthiest americans to pay higher tax rates. that's one wrins pal i won't compromise on. >>...
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i'm just going to say it, fiscal cliff, i know, i know, you've heard it. you've heard enough of it, but after another week without progress in washington, the possibility of plunging off the ejd is edge is becoming more of a reality and that could mean real changes for real people. stephanie rule joins me live now to talk a little bit about this. good morning, stephanie, how are you? >> good morning, randi. i was just saying moments ago that i am very concerned about the fiscal cliff but tearing up over besse cooper and the 8-year-old twins from oklahoma. what a morning you're having. >> what a life she had. >> amazing. >> well, let's talk about the cliff now that your eyes are dry. i hope this doesn't bring you to tears -- >> not yet. >> 24 days and counting until that deadline. but for the average american, what will it look like if we go off the cliff? will it be better for anyone? this is a very stressful time. you know, people talk about the cliff like it's this major event, which it is, but almost like a y2k. what are things going to look like januar
i'm just going to say it, fiscal cliff, i know, i know, you've heard it. you've heard enough of it, but after another week without progress in washington, the possibility of plunging off the ejd is edge is becoming more of a reality and that could mean real changes for real people. stephanie rule joins me live now to talk a little bit about this. good morning, stephanie, how are you? >> good morning, randi. i was just saying moments ago that i am very concerned about the fiscal cliff but...
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if it it doesn't we could go over the fiscal cliff and right now the economy is in a fragile position. >> no one can argue with that one. a lot of criticism on both sides and a lot pointing to republicans that they want to see the fiscal cliff happen. is there any upside if we actually go over the cliff? >> there's no upside if we go over the cliff and what you've seen the last couple of weeks is political theater. that's how we negotiate things here in washington d.c. and the good news, the president put forth a plan and republicans have put forth a plan and i believe that obama will have to come to the table with more spending cuts and entitlement reform and republicans might have to give in to some tax increases and the cbo do a recent report, saying if republicans get what they want in extending the entire bush tax cut plan. it would only increase the gd growth by 1.5%. if we do what president obama wants to do, it will only increase the gdp by 1.25%, having said that, it's just not about tax cuts, doug, it's more about cutting wasteful government spending. >> i was going to ask d
if it it doesn't we could go over the fiscal cliff and right now the economy is in a fragile position. >> no one can argue with that one. a lot of criticism on both sides and a lot pointing to republicans that they want to see the fiscal cliff happen. is there any upside if we actually go over the cliff? >> there's no upside if we go over the cliff and what you've seen the last couple of weeks is political theater. that's how we negotiate things here in washington d.c. and the good...
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i think if we do go off the cliff and recession, i think the fiscal cliff is completely unpredic unpredict-- predictable, especially with a fragile economy, the wall street and the corporate economists are deeply scared about it. that recession really would, you know, wreck his term because we would be obsessed with that for the next couple of years. and so i don't think it's a total walk for him but he clearly has the upper hand. and then there is just the sheer fact of the numbers. say they reach a compromise. i think the republicans are likely to cave on the rate and you close a few deductions. >> do you think they will. >> i do. >> because they are saying they are not going to cave. >> there is going to be no deal on that. they are to the going to go into january, as mark said, and say to the country, hey, we're going to raise your taxes but we have to serve the rich people. they're just not going to do that with the polls, so they're going to cave. they will not get up to 39% but they could get to 37. so say you get to 1.2 trillion in revenue. you still need spending cuts so the presi
i think if we do go off the cliff and recession, i think the fiscal cliff is completely unpredic unpredict-- predictable, especially with a fragile economy, the wall street and the corporate economists are deeply scared about it. that recession really would, you know, wreck his term because we would be obsessed with that for the next couple of years. and so i don't think it's a total walk for him but he clearly has the upper hand. and then there is just the sheer fact of the numbers. say they...
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on fiscal cliff talks. joining me now university of chicago booth school of business professor and former chairman of the council of economic advisors under president obama, dr. austan goolsbee. dr. goolsbee, where is the stethoscope? come on, i see it there hello, good to see you, austin. >> hey, laura great to see you again. i painted the pictures why conservatives should figure it out and not be in despair. on the other side of the equation you have the president. let's say the president gets his tax hikes. you know, everyone thinks they are going to have higher taxes in the new year. so he gets tax hikes. but then what? i mean, the new normal that's being painted by your friends over at the oecd say our girls will probably be about 2.2%. 2% maybe if we're luck in next year. the new normal even with high taxes doesn't look good. >> yeah. let's hope it's higher than that i think it's going to be a bumpy 60 days in my view. fiscal cliff. as low as that 2% is. the awful state of the world right now is that
on fiscal cliff talks. joining me now university of chicago booth school of business professor and former chairman of the council of economic advisors under president obama, dr. austan goolsbee. dr. goolsbee, where is the stethoscope? come on, i see it there hello, good to see you, austin. >> hey, laura great to see you again. i painted the pictures why conservatives should figure it out and not be in despair. on the other side of the equation you have the president. let's say the...
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>> impact the fiscal cliff is having on chiritable giving. join us at 11:00 right after 2020. >> that is all for now. w >> from all of us here, have a terrific evening. this is "jeopardy!" here are today's contestants -- a non-profit assistant director of donor relations from germantown, maryland... ...a school office clerk from rosemead, california... ...and our returning champion, a university fundraiser from astoria, new york... and now here is the host of "jeopardy!" -- thanks, johnny. brand-new champion, noah, crowned on yesterday's program, but three contestants today -- rebecca, and noah -- who would like to earn some holiday spending money, i'm sure. so, let's go to work. the jeopardy! round is where we begin. and today we have these categories for you.
>> impact the fiscal cliff is having on chiritable giving. join us at 11:00 right after 2020. >> that is all for now. w >> from all of us here, have a terrific evening. this is "jeopardy!" here are today's contestants -- a non-profit assistant director of donor relations from germantown, maryland... ...a school office clerk from rosemead, california... ...and our returning champion, a university fundraiser from astoria, new york... and now here is the host of...
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. >>> also, the fiscal cliff. it's down to two people. everybody seems to agree, two people get in the room, the president and the leader of the opposition, john boehner, the speaker. they may be closer, some argue, to an agreement than we think. the question is can they sell the deal to their bases, to their fringies, left and right i must say. >>> plus, republicans say they would change after the election and they are. guess what? they're changing the rules. some of them are proposing to republicans in pennsylvania and three other states obama won, they're trying to eliminate the winner-take-all system of awarding electoral votes. that way republicans could win electoral votes in states they lose. >>> new jersey governor chris christie finally meets his idol. the man he's seen in concert more than 100 times. the governor and the boss, bruce springsteen. they're friends now. this is "hardball," the place for politics. from our 4,000 television commercials. yep, there i am with flo. hoo-hoo! watch it! [chuckles] anyhoo, 3 million people s
. >>> also, the fiscal cliff. it's down to two people. everybody seems to agree, two people get in the room, the president and the leader of the opposition, john boehner, the speaker. they may be closer, some argue, to an agreement than we think. the question is can they sell the deal to their bases, to their fringies, left and right i must say. >>> plus, republicans say they would change after the election and they are. guess what? they're changing the rules. some of them are...
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the fiscal cliff and the amt did. that would affect 27 million american families and a lot of other taxpayers. there are other parts of this. when you hear about the concern about the fiscal cliff, it is not the tax rates. i do not buy that. i do not think we need to increase the tax rates. >> if you go over and the tax rates go up, all of that goes away. >> we should not do it. we should resolve this. it depends on whether we then do something about it in the next month or two after it. we set ourselves on a path to do something within 30, 60, or 90 days and we are clear about that. people do not believe we will do it unless we do something. that is our worries. >> as part of that second stage, does the top rate have to end at 39.6? are there ways democrats can accept something in between bush and clinton if it was coupled with a reduction in the ability of people to take certain deductions or credits? would you see a top rate below 39.6 when the dust settles? >> i do not want to second-guess what we may decide. i th
the fiscal cliff and the amt did. that would affect 27 million american families and a lot of other taxpayers. there are other parts of this. when you hear about the concern about the fiscal cliff, it is not the tax rates. i do not buy that. i do not think we need to increase the tax rates. >> if you go over and the tax rates go up, all of that goes away. >> we should not do it. we should resolve this. it depends on whether we then do something about it in the next month or two...
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aspercreme. >>> new job numbers, fiscal cliff talks, legalize medical marijuana. all the news was fodder for late night comedians this week. here are just some of our favorite late night laughs. >> some good news. the u.s. unemployment rate is now the lowest it's been in four years. or as makers of sweatpants put it. >> the unemployment rate has fallen to the lowest level in four years. well, the bad news, most of those jobs involve wearing a red suit, a beard and have a kid pee in your lap. >> house speaker john boehner said his efforts to work with president obama on the fiscal cliff have resulted in a lot of talk, but no action. yeah. a lot of talk, but no action or as they call that in college, date. >> you know what's really popular now, weed. weed. yeah, you can get it in washington legally and you can get it in colorado legally and 60% of americans say they're in favor of legalizing weed and it's, it's too bad that this comes just when twinkies is going out of business. i mean -- >> day two of legalized marijuana in washington state and you think pot smoker
aspercreme. >>> new job numbers, fiscal cliff talks, legalize medical marijuana. all the news was fodder for late night comedians this week. here are just some of our favorite late night laughs. >> some good news. the u.s. unemployment rate is now the lowest it's been in four years. or as makers of sweatpants put it. >> the unemployment rate has fallen to the lowest level in four years. well, the bad news, most of those jobs involve wearing a red suit, a beard and have a...
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. >> it has probably not escaped your attention that the mantra "fiscal cliff, fiscal cliff, fiscal cliff" is played out every night on the evening news and the corporate news. what does that say to you? that you'd get "fiscal cliff, fiscal cliff," but not "job crisis, job crisis, job crisis"? >> it tells me, quite frankly, that many of these people, who by the way did not have much to say about the deficit when we went to war in iraq and afghanistan and didn't pay for it, i didn't hear from any people in the media complaining about that. what it tells me is that behind the corporate drive for deficit reduction is a significant effort to try to cut social security, medicare, and medicaid and other programs that working families need, not so much because of deficit reduction, because this has been the agenda of republicans and right wingers for a very long time. >> so how do you see this fiscal debate playing out in the next couple of weeks? >> we have, those of us who say that deficit reduction is a serious issue, i believe it is. but believe very strongly that at a time when we have the
. >> it has probably not escaped your attention that the mantra "fiscal cliff, fiscal cliff, fiscal cliff" is played out every night on the evening news and the corporate news. what does that say to you? that you'd get "fiscal cliff, fiscal cliff," but not "job crisis, job crisis, job crisis"? >> it tells me, quite frankly, that many of these people, who by the way did not have much to say about the deficit when we went to war in iraq and afghanistan...
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. >>> and fiscal cliff talks. stay with us. you're watching "the ed show" on >>> unemployment hits a four had-year low, but republican obstruction is keeping the country from creates more jobs. we'll bring you the latest numbers and i'll ask david cay johnston why now is the time to focus on job creation. >>> and the supreme court will hear two cases on same-sex marriage. we'll get the details from jonathan turly later on in this hour. share your thoughts on facebook and twitter. we're coming right back. >>> welcome back to "the ed show." we have seen a lot of obstructionism from the republicans. trying to stop progress has z how they do business. latest move from senate minority leader mitch mcconnell just might take the cake. he threatened to filibuster his own bill. mcconnell proposed legislation to give the president the authority to raise the debt ceiling. under the plan, congress would need a two-thirds majority to stop him. it's a proposal that president obama likes. so why would mitch mcconnell propose such a bill? to e
. >>> and fiscal cliff talks. stay with us. you're watching "the ed show" on >>> unemployment hits a four had-year low, but republican obstruction is keeping the country from creates more jobs. we'll bring you the latest numbers and i'll ask david cay johnston why now is the time to focus on job creation. >>> and the supreme court will hear two cases on same-sex marriage. we'll get the details from jonathan turly later on in this hour. share your thoughts on...
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now and the fiscal cliff negotiation. the back and forth between both sides hasn't been complimentary. quite the opposite, in fact, which means the country needs to prepare for what comes next. that would be automatic spending cups and the expiration of bush era tax breaks. the pentagon has been preparing, and as our john callan reports, so have families who have a whole lot to lose if a deal doesn't get done. >> reporter: jeremy connor, married father of two. >> i've worked recently for a very large defense contractor, and my wife works for that same defense contractor. >> reporter: he left that job after 18 years for more stability since the couple both worked in the same department. >> the discussion of the fiscal cliff just made sense for one of us to get out. >> you know, we didn't know what it looked like down the road, if we were even going to have jobs at all. >> reporter: pentagon's budget for the next ten years has already been flashed $500 billion, and could face another half trillion in automatic cuts if congr
now and the fiscal cliff negotiation. the back and forth between both sides hasn't been complimentary. quite the opposite, in fact, which means the country needs to prepare for what comes next. that would be automatic spending cups and the expiration of bush era tax breaks. the pentagon has been preparing, and as our john callan reports, so have families who have a whole lot to lose if a deal doesn't get done. >> reporter: jeremy connor, married father of two. >> i've worked...
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fiscal cliff. if you listened to speaker boehner yesterday he is reading reports that the president is trying to slow walk this thing. listen to the speaker. >> when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. >> there are a lot of things that are possible to put the rev that the president seeks on the table, but nope of it is going to be possible. the president insists on his position. insists on my way or the highway. that's not the way to get to an agreement that i think is important for the american people and very important for our economy. >> there you go. so that's what speaker boehner's office is saying. they had a phone call on thursday. but people wondering if they are not even talking at all anymore. >> he said this is no way to an agreement there should be compromise. if you are elected official you should represent all of the united states and you should compromise and hear both sides. >> i think you should
fiscal cliff. if you listened to speaker boehner yesterday he is reading reports that the president is trying to slow walk this thing. listen to the speaker. >> when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. >> there are a lot of things that are possible to put the rev that the president seeks on the table, but nope of it is going to be possible. the president insists on his position. insists on my way...
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concerns about the fiscal cliff -- is your agency effected by the fiscal cliff discussion? guest: very much so. we are an agency, as is the cdc , that fall under the discretionary part of the budget. what happens if you do not solve the issue, there will be an automatic kickoff of cuts in federal spending that will be chaired by the department of defense and discretionary -- shared by the department of defense and discretionary agencies. if we do get to the point where sequestration happens, and money is pulled out because of the inability to solve this problem, the science funding, which includes the nih and cdc is looking at a cut in resources that is significant when you think about the responsibility that we have. we are concerned about whether or not this fiscal cliff issue is resolved. host: the budget that you have? guest: the budget is about $4.5 billion. the nih is about 30 billion. host: what does the cdc face? guest: it is been calculated to the and 8% reduction, close to $5 billion, which would make it difficult for us to support state and local governments and
concerns about the fiscal cliff -- is your agency effected by the fiscal cliff discussion? guest: very much so. we are an agency, as is the cdc , that fall under the discretionary part of the budget. what happens if you do not solve the issue, there will be an automatic kickoff of cuts in federal spending that will be chaired by the department of defense and discretionary -- shared by the department of defense and discretionary agencies. if we do get to the point where sequestration happens,...
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fiscal cliff or not. what do you make of that? >> first of all, we obviously see these things in terms of one-year period. if you add up january 1 of 2011 through let's say december 31st, 2012, a two-year period, let's say the markets end up a little bit more they're still going to be up about 8% annualized for two years. which is a really good compared to 1 1/2% on a 10-year note. but hardly what you would call this massive bull market a la the 1990s and 1980s. >> it's nice. but zach, if i could have had 8% a year for the last 15 years, you have to be in better shape than how i actually am. in the last 15 years it hasn't done anything. >> i think this is a testament to the fact the only game in town, you do talk about this a lot, larry, is that companies are net net relative to national economies better run and making money. so if you're going to invest in something, sovereign debt which we now know is not nearly as risk free as it looks is yielding a little amount of money because sovereigns are not effectival caters of capital.
fiscal cliff or not. what do you make of that? >> first of all, we obviously see these things in terms of one-year period. if you add up january 1 of 2011 through let's say december 31st, 2012, a two-year period, let's say the markets end up a little bit more they're still going to be up about 8% annualized for two years. which is a really good compared to 1 1/2% on a 10-year note. but hardly what you would call this massive bull market a la the 1990s and 1980s. >> it's nice. but...
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many of our families are facing a fiscal cliff. the biggest fight, the biggest organization leading the fight to help working families has been the unions. that's been the equalizer. we know the top six states in unemployment are right to work states. so what are we doing in this economy to promote? what is the governor doing and the republicans to help grow the economy? it's got nothing to do with right to work. you're going to drive more people into poverty. it's senseless in every way. and of course, it's very underhanded as you said, the way they're going about it with no debate. >> they are doing this in a lame duck session. >> that's correct. people are out shopping, thinking about the holidays. and they're trying to do this in just a matter of days. they have suspended the rules and violated their own rules. not allowed any public debate. the speaker of the house has the it temerity to say oh, this has been debated for years in michigan. bull. let's talk about right to work. let's talk about what it means. it's right to work
many of our families are facing a fiscal cliff. the biggest fight, the biggest organization leading the fight to help working families has been the unions. that's been the equalizer. we know the top six states in unemployment are right to work states. so what are we doing in this economy to promote? what is the governor doing and the republicans to help grow the economy? it's got nothing to do with right to work. you're going to drive more people into poverty. it's senseless in every way. and...
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i love you, too. >>> for most americans, a fiscal cliff would be more of a slide. most of us will feel the impact gradually. for millions, the consequences will be immediate and severe. while the national unemployment rate dropped to 7.7%, the long-term unemployment numbers, those for whom finding wosh has been elusive for six months or more, now includes 4.8 million americans. those folks are at particular risk. that's because december 31st is also the expiration date for federal emergency unemployment insurance. the program passed into law in 2008 uses federal dollars to give extra weeks of jobless benefits to unemployed americans who have already passed the cutoff for their state benefits. if no deal is reached, 2.1 million people will see an immediate end to their federal -- to fall off the edge of that cliff without a net. >> back with me david k. johnson, sanchez and carmen wong ulrich and greg kaufman, a contributor for the nation. he has been one of the most consistent voices for poverty in america, regularly wlriting abot this on his weekly blog. this feel
i love you, too. >>> for most americans, a fiscal cliff would be more of a slide. most of us will feel the impact gradually. for millions, the consequences will be immediate and severe. while the national unemployment rate dropped to 7.7%, the long-term unemployment numbers, those for whom finding wosh has been elusive for six months or more, now includes 4.8 million americans. those folks are at particular risk. that's because december 31st is also the expiration date for federal...
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you talk about the fiscal cliff earlier in the show. many families facing the fiscal cliff. the biggest organization leading the fight to help working families has been the unions. that's been the equalizer. we know the top six states in unemployment are right to work states. what are we doing to promote? what is the governor doing to help grow the economy. it has nothing to do with raigh to work. it's very underhanded the way they are going about it with no debate. >> they are doing this in a lame duck session. >> you see the time. they are out shopping thinking about the holidays and trying to do this in a matter of days. they have suspended the rules and violated their own rules. not allowed any public debate. they are saying this has been debated for years. bull. there's been no debate. let's talk about right to work. let's talk about what it means. it's right to work for less. it's completely undemocratic when the majority of people vote, you know what it is. i'm not sure they know what right to work means. the fact is it's antidemocratic. when the majority of a company
you talk about the fiscal cliff earlier in the show. many families facing the fiscal cliff. the biggest organization leading the fight to help working families has been the unions. that's been the equalizer. we know the top six states in unemployment are right to work states. what are we doing to promote? what is the governor doing to help grow the economy. it has nothing to do with raigh to work. it's very underhanded the way they are going about it with no debate. >> they are doing this...
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. >>> well, t minus 24 days and counting until the fiscal cliff deadline. no progress was made in washington. the main sticking point are about tax cuts that are set to expire and the president's demand that the wealthy pay more in taxes. the uncertainty of what is going to happen is starting to have an impact on donations to charity. abc7 news reporter ama dates dates is live in the newsroom. >> it is possible the tax deduction for charitable giving could be capped next year. so the question is do you hold on to your money during the financial uncertainty or donate more while youwill get au will get a deduction. for one charity in san francisco it seems people are doing a little of both. the food pantry at the st. anthony foundation is in good shape today, but overall donations are down for the year. >> we are a little bit behind where we would like to be, where we are budgeted to be. >> the interim executive director says the charity is seeing interesting trends this holiday season that may have to do with the impending fiscal cliff. >> we are seeing peop
. >>> well, t minus 24 days and counting until the fiscal cliff deadline. no progress was made in washington. the main sticking point are about tax cuts that are set to expire and the president's demand that the wealthy pay more in taxes. the uncertainty of what is going to happen is starting to have an impact on donations to charity. abc7 news reporter ama dates dates is live in the newsroom. >> it is possible the tax deduction for charitable giving could be capped next year. so...
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. >>> well, t minus 24 days and counting until the fiscal cliff deadline. no progress was made in washington. the main sticking point are about tax cuts that are set to expire and the president's demand that the wealthy pay more in taxes. the uncertainty of what is going to happen is starting to have an impact on donations to charity. abc7 news reporter ama dates dates is live in the newsroom. >> it is possible the tax deduction for charitable giving could be capped next year. so the question is do you hold on to your money during the financial uncertainty or donate more while you know you will get a deduction. for one charity in san francisco it seems people are doing a little of both. the food pantry at the st. anthony foundation is in good shape today, but overall donations are down for the year. >> we are a little bit behind where we would like to be, where we are budgeted to be. >> the interim executive director says the charity is seeing interesting trends this holiday season that may have to do with the impending fiscal cliff. >> we are seeing people
. >>> well, t minus 24 days and counting until the fiscal cliff deadline. no progress was made in washington. the main sticking point are about tax cuts that are set to expire and the president's demand that the wealthy pay more in taxes. the uncertainty of what is going to happen is starting to have an impact on donations to charity. abc7 news reporter ama dates dates is live in the newsroom. >> it is possible the tax deduction for charitable giving could be capped next year. so...
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the financial advisor gives his take on the looming fiscal cliff. >> the president will want it and get it and win the battle on the higher tax rates on upper income people. >> art lafferks r said the gop still has more cards to play in their hand. ♪ ♪ ♪ [ male announcer ] everyone deserves the gift of all day pain relief. this season, discover aleve. all day pain relief with just two pills. welcome back everybody. help is on the way for hurricane sandy victims in washington. getting that money approved will not be easy. >>let white house sent letters to john boehner and harry reid requesting 60.4 billion saying after hurricane sandy they're funds necessary to finance. and there is impants . in dc money is quiet . speaker boehner said we have the request and we will view it they need to make sure they don't spend too much money they don't should saying it is our responsible to make sure they are giting the most . that i can sure they are times and targeted. governors of new york and jers. asked for it 79.billion and this is well short of governors and senators are thankful for the
the financial advisor gives his take on the looming fiscal cliff. >> the president will want it and get it and win the battle on the higher tax rates on upper income people. >> art lafferks r said the gop still has more cards to play in their hand. ♪ ♪ ♪ [ male announcer ] everyone deserves the gift of all day pain relief. this season, discover aleve. all day pain relief with just two pills. welcome back everybody. help is on the way for hurricane sandy victims in washington....
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if our elected leaders don't do something about that looming fiscal cliff. and that is just the beginning. big splash with the employees. [ duck yelling ] [ male announcer ] find out more at... [ duck ] aflac! [ male announcer ] ...forbusiness.com. ♪ ha ha! five days later, i had a massive heart attack. bayer aspirin was the first thing the emts gave me. now, i'm on a bayer aspirin regimen. [ male announcer ] be sure to talk to your doctor before you begin an aspirin regimen. [ woman ] learn from my story. >>> welcome back. 16 minutes past the hour. no one can be sure if the white house and congress will steer the country away from that so called fiscal cliff, which now is just 24 days away. but it's probably a good idea for you and your family to be prepared just in case. earlier, i spoke with stephanie rule of bloomberg tv about what could happen if the deal is not reached. >> people talk about the cliff like it's this major event, which it is. but almost like a y2k. from a paycheck perspective, you will see less money in your paycheck if we do fall off
if our elected leaders don't do something about that looming fiscal cliff. and that is just the beginning. big splash with the employees. [ duck yelling ] [ male announcer ] find out more at... [ duck ] aflac! [ male announcer ] ...forbusiness.com. ♪ ha ha! five days later, i had a massive heart attack. bayer aspirin was the first thing the emts gave me. now, i'm on a bayer aspirin regimen. [ male announcer ] be sure to talk to your doctor before you begin an aspirin regimen. [ woman ] learn...
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now, about the fiscal cliff, john boehner's in town. that's relatively rare for him to stay in town on the weekend. the president was here, but there were meetings yesterday. nancy pelosi came in and out. no one saw her. we thought reading the tea leaves maybe there would be some movement. there was some movement. the president is playing golf. haven't seen hide nor hair of john boehner. >> mike viqueira, thank you, good sir. for more insight into where all of this is headed and whether there could be a breakthrough, i'd like to bring in david jackson, white house reporter for "usa today," and the politics writer for "roll call." appreciate your time. david, what's your sense right now? how far apart are the two sides? >> i think they're closer than a lot of people think because as mike just mentioned the dispute the size of the tax increase on the wealthy. both sides have said they want to negotiate what that rate may be. as far as the republicans are concerned, they want more commitment from the white house for spending cuts particula
now, about the fiscal cliff, john boehner's in town. that's relatively rare for him to stay in town on the weekend. the president was here, but there were meetings yesterday. nancy pelosi came in and out. no one saw her. we thought reading the tea leaves maybe there would be some movement. there was some movement. the president is playing golf. haven't seen hide nor hair of john boehner. >> mike viqueira, thank you, good sir. for more insight into where all of this is headed and whether...
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december consumer sentiment nosedid to a five-year high, because of fiscal cliff fears. a spike in taxes would leave a lot less money lying aroundor the iphone or ipad. shares of apple fell 2%. >>> thanks to a study by the department of energy the u.s. may be closer to approve natural gas exports. data shows it could improve th economy by $47 billion in 2020. we need that. sounds like a win-win. we have the ceo of bright link oil and gas. chris, thanks for joining us. >> thank you. melissa: what do you make of this report? first of all, do you buy it? do you think it's possible? >> i dohink it's psible and i'm glad to see it come out. what it really does now it shows overhe 12 different enarios that the government study investiged each one of those scenarios came back and said america will benefit and have a positive economic gai if we export lng offshore to europe, and or asia and to other countries that need our gas. melissa: we have so much natural gas unlocked as a result of fracking, the problem is, intellectually, emotionally we can never wrap our heads on exportin
december consumer sentiment nosedid to a five-year high, because of fiscal cliff fears. a spike in taxes would leave a lot less money lying aroundor the iphone or ipad. shares of apple fell 2%. >>> thanks to a study by the department of energy the u.s. may be closer to approve natural gas exports. data shows it could improve th economy by $47 billion in 2020. we need that. sounds like a win-win. we have the ceo of bright link oil and gas. chris, thanks for joining us. >> thank...
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i'm tired of talking about the fiscal cliff. i think some of that uncertainty has held back hiring and we have to get past that. because if you're a business an you don't know what the rules of the game are, most businesses will tell you i don't even care what the level of regulation is or what the tax rate is i just need to know what the playing field is. it's that uncertainty that's holding things back. we have to take that probably into early next year before you lift that uncertainty. >> thanks so much. now to the president and the congress and the fiscal cliff. the combination of automatic tax hikes and deep federal spending cuts due to kick in january 1st. that's 24 days away. just over three weeks from now but so far negotiations to find a way around it well they've gone nowhere. we'll talk about that with a former chief of staff to president bill clinton and adviser to president obama and a founder and chairman of the center for american progress which is a washington think tank and he joins us now from our washington bu
i'm tired of talking about the fiscal cliff. i think some of that uncertainty has held back hiring and we have to get past that. because if you're a business an you don't know what the rules of the game are, most businesses will tell you i don't even care what the level of regulation is or what the tax rate is i just need to know what the playing field is. it's that uncertainty that's holding things back. we have to take that probably into early next year before you lift that uncertainty....
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back in this country, we are just over three weeks away from falling over the so-called fiscal cliff, that combination of tax increases and deep federal spending cuts. nancy cordes reports the back-and-forth showed no sign of letting up today 20 white house and the republicans in congress. >> reporter: in his saturday weekly address, president obama signaled he is open to making cuts on programs like medicare and medicaid if republicans agree to raise tax rates for the rich. >> i'm willing to find ways to bring down the cost of health care without hurting seniors and other americans who depend on it. and i'm willing to make more entitlement spendings cuts on top of the $1 trillion in spending cuts i signed into law last year. >> reporter: his remarks came one day after house speaker john boehner announced the talkes were stalled. >> well, this isn't a progress report because there's no progress to be report. >> reporter: his democratic counter-part ploals blamed boehner for the stalemate. >> what they offered in return was an empty letter lacking in specifics. >> reporter: such is the
back in this country, we are just over three weeks away from falling over the so-called fiscal cliff, that combination of tax increases and deep federal spending cuts. nancy cordes reports the back-and-forth showed no sign of letting up today 20 white house and the republicans in congress. >> reporter: in his saturday weekly address, president obama signaled he is open to making cuts on programs like medicare and medicaid if republicans agree to raise tax rates for the rich. >> i'm...
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charles, bring it round to the fiscal cliff because it's all interwoven here. it's all about basically where should government be spending money, where should cuts be made, and who ends up paying the lion's share of this. my sense is this will not go over the cliff and the reason it won't is that public opinion is now raging so hard against the republicans in all the polls that you see, they've lost the argument so why go over a cliff and make it worse for yourselves. >> i think you're right about that, because all of the polls i've seen say exactly what you're saying which is that the republicans will be blamed if we go over the cliff. but the first part of your question i think is the more crucial part of the question, which is how do you not cut off your nose to spite your face. if you do things, you make cuts that harm children who need to learn, who need to be able to go to school on a full stomach and be able to stay a whole day and have programs that will allow them to be competitive with children in china and india, if you need that to be a real situati
charles, bring it round to the fiscal cliff because it's all interwoven here. it's all about basically where should government be spending money, where should cuts be made, and who ends up paying the lion's share of this. my sense is this will not go over the cliff and the reason it won't is that public opinion is now raging so hard against the republicans in all the polls that you see, they've lost the argument so why go over a cliff and make it worse for yourselves. >> i think you're...
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and tomorrow in the light of congress discussing the so-called fiscal cliff, at 2 p.m. eastern booktv highlights a few programs about economics. james gustav, steve forbes and george gilder all weigh in. watch this and more all weekend long on booktv. for a complete schedule, visit booktv.org. >> now, from albany, new york, we hear about the state-mandated new york state writer's institute. the program promotes cultural initiatives through author presentations, workshops, film screen things and more -- screenings and more. >> i can see each event just as vividly as i can see the posters before me. i'm donald faulkner, i'm director of the new york state writer's institute, and what we do, what i do is kind of herd intellectual cats. we bring a lot of writers through to albany to do readings, we also do a number of other types of programs, events, writing workshops and film series and programs with young writers and a summer institute that we run in saratoga. >> the life of the -- my life in the last few years was, i suppose you'd call it adventurous. but this thing ruine
and tomorrow in the light of congress discussing the so-called fiscal cliff, at 2 p.m. eastern booktv highlights a few programs about economics. james gustav, steve forbes and george gilder all weigh in. watch this and more all weekend long on booktv. for a complete schedule, visit booktv.org. >> now, from albany, new york, we hear about the state-mandated new york state writer's institute. the program promotes cultural initiatives through author presentations, workshops, film screen...
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economy ndntinued to add jobs in november, despite worries about a looming fiscal cliff in washington and the effects of a k perstorm in the northeast. >> thank you very much. or reporter: at chobani, the greek yogurt maker based in new york, c.e.o. hamdi ulukaya has been hiring. how many employees do you have? >> close to 2,000. >> reporter: the turkish-born ulukaya started chobani just four years ago. since then, greek yogurt sales re g exploded. chobani is now nearly a billion- dollar business. >> think we're going to be over 5,000 to 6,000 people by five years. >> reporter: so another 3,000 or ll000. th yeah. >> reporter: nationally job f owth has been steady but slow. so far in 2012 the economy has added an average of 151,000 jobs a month. >> we are creating more jobs but the pace of that hasn't really thanged much in the last two years. >> reporter: this chief investment strategist with the the blackrock says the economy is caught in a circle. >> one reason the job market isn't better is consumers aren't spending and the reason consumers aren't spending is etcause the job market
economy ndntinued to add jobs in november, despite worries about a looming fiscal cliff in washington and the effects of a k perstorm in the northeast. >> thank you very much. or reporter: at chobani, the greek yogurt maker based in new york, c.e.o. hamdi ulukaya has been hiring. how many employees do you have? >> close to 2,000. >> reporter: the turkish-born ulukaya started chobani just four years ago. since then, greek yogurt sales re g exploded. chobani is now nearly a...
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. >> susie: and house speaker boehner accuses president obama of wasting another week in the fiscal cliff negotiations. >> tom: that and more tonight on
. >> susie: and house speaker boehner accuses president obama of wasting another week in the fiscal cliff negotiations. >> tom: that and more tonight on
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surprising impact the fiscal cliff is having on charity donations. >> christmas surprise. how santa was able to deliver exactly what this also girl wanted right there on the spot. cute kid. thoughts stories and more coming up at 11:00 over on channel 7. hope you can join us for. that but now sports director larry is here. warriors on the road. >> i believe santa is delivering win to them unprecedented rate. at least for what we have seep in the last 20 years. pretty remarkable. home come for jackson tonight back in brooklyn facing the nets in the brand new arena. this is a very happy homecoming. jackson born in brook lip. high school ball down the road from barkley center. raising the game here. steal from wallace and take it to the rack strong. net led at the half. johnson had 20 in the first half. finish with 32. naets up -- nets up 6 but curry hot. not talking like look warm or mild. we are talking smoldering hot. then curry look at the dish here. no look inside. super rookie. david lee double double 30 point. 15 board. not afraid to get his hand dirty inside. up and in
surprising impact the fiscal cliff is having on charity donations. >> christmas surprise. how santa was able to deliver exactly what this also girl wanted right there on the spot. cute kid. thoughts stories and more coming up at 11:00 over on channel 7. hope you can join us for. that but now sports director larry is here. warriors on the road. >> i believe santa is delivering win to them unprecedented rate. at least for what we have seep in the last 20 years. pretty remarkable. home...
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we are here debating a fiscal cliff. we're here debating direction of america, we were going to go financially. very responsible ability as members of congress. we are the stewards of public funding. it's rightfully have this hearing again and i vitiated. in december when i came, at least a couple issues. we want to invest in infrastructure. one america to move quickly in the best ways possible. what you want from you also need a plan for her. if the networks, a planned test it, it's an audited in a plan that has a review. i happen to come from california. the happiness in the area and many of you talk about. it's part of where it began. i have ruled out of viability, cost and with them and come in this will ever that is why i joined the chairman, mr. denham, mr. miller at the gao, asking for an audit and review of the business plan in california. a look forward to hearing testimony later through corporatists completed. today it has been billions of dollars. as concerns about the business plan itself an equally concernin
we are here debating a fiscal cliff. we're here debating direction of america, we were going to go financially. very responsible ability as members of congress. we are the stewards of public funding. it's rightfully have this hearing again and i vitiated. in december when i came, at least a couple issues. we want to invest in infrastructure. one america to move quickly in the best ways possible. what you want from you also need a plan for her. if the networks, a planned test it, it's an audited...